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â€œWe needed Diamant Boart to enter into the stone industry,â€ said Anders StrÃ¶by, president of Electrolux Construction Products. â€œWe were mostly in construction.â€ StrÃ¶by explained that Electrolux first bought Dimas in 1997 to put its foot in the door of the diamond tools industry. In 2001, the opportunity surfaced to purchase Diamant Boart. Today, the Diamant Boart Group includes Diamant Boart, Dimas, Partner and Target.
â€œWe are an industrial company,â€ he said. â€œThe only way to step into the stone industry is by acquiring a company, because you get the knowledge, experience and database. Stone is the biggest business in Italy, and we think our greatest strength is our global experience. We believe products are driving our business, and we will invest in product research and development.â€
Diamant Boart was established in 1937 and is headquartered in Brussels, Belgium. The company operates 18 manufacturing factories worldwide and consists of 2,300 employees, according to StrÃ¶by. Additional locations include Blois, France; Inofyta, Greece; Madrid, Spain; Riode Mouro, Portugal; Xiamen, China; Columbia, SC; and Olathe, KS.
â€œA new factory opened in China in January 2003,â€ said StrÃ¶by, explaining that it produces stone products for the local market. â€œHigh-quality machines need high-quality tools. That's the niche we are creating in China.â€ According to StrÃ¶by, Diamant Boart will also be opening a new factory in Brazil in the near future.
â€œOur intentions are to strictly focus on diamond tools -- not machinery,â€ he said. â€œWe want to concentrate our efforts. We don't want to be fragmented. Diamant Boart is very strong in wire, gangsaw and larger blades. It's growing in milling tools.â€
According to StrÃ¶by, 40% of the company's market is North America, 2% is South America and 44% is Europe. â€œOur dominating position in stone is in Europe, including Turkey,â€ he said, adding that Diamant Boart sells to quarriers, stone fabricating facilities and direct sales. â€œWe believe with the cost of diamonds today -- there's been a massive reduction in the last two years -- there is an opportunity for us.â€ Future goals include producing a more high-quality diamond for use in new applications.